I want to correct answer general accounting question Peterson Industries reported a net loss of $32,000 during the year.Comparing beginning and ending balances, you determine the following: (1)accounts receivable decreased by $12,000; and (2) accrued expenses payabledecreased by $7,000. What was the amount of cash used in operatingactivities during the year?a. $27,000b. $37,000c. $17,000d. $51,000

Step 1: IntroductionAccounts receivable decreased by $12,000: A decrease in accounts receivable…

Answered: Peterson Industries reported a net loss…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Filton Company reported net income of $44,204 for the year. During the year, accounts receivable increased by $7,925, accounts payable decreased by $4,003 and depreciation expense of $46,347 was recorded. Find the net cash provided by operating activities for the year. Select the correct answer. $44,204 $78,623 $102,479 $94,473
Loster Company reported a net loss of $16,550 for the year ended December 31. During the year, accounts receivable decreased by $6,534, inventory increased by $7,058, accounts payable increased by $12,523, and depreciation expense of $5,943 was recorded. What was the net cash used for or provided by operating activities during the year? Select the correct answer. provided net cash of $16,550. used net cash of $16,550. used net cash of $1,392. provided net cash of $1,392.
Mazaya Company reported net income of R.O.70,000 for the year. During the year, accounts receivable decreased by R.O.7,000, accounts payable increased by R.O.3,00oo and depreciation expense of R.0.5,000 was recorded. Net cash provided by operating activities for the year is
Rogers Company reported net income of $33,858 for the year. During the year, accounts receivable increased by $7,052, accounts payable decreased by $2,151 and depreciation expense of $70,819 was recorded. Net cash flows from operating activities for the year is a. $109,578 b. $95,474 c. $33,858 d. $113,880
calculate cash flow from assets if given year 1: sales=9402, depreciation=1350, costs of good sold=3235, administrative expenses=767, interest expenses=630, cash=4931, accounts receivable=6527, short term notes payable=953, long term debt=16152, net fixed assets=41346, accounts payable=5179, inventory=11604, and dividends=1147 and given year 2: sales=10091, depreciation=1351, costs of good sold=3672, administrative expenses=641, interest expenses=724, cash=6244, accounts receivable=7352, short term notes payable=895, long term debt=19260, net fixed assets=42332, accounts payable=5022, inventory=11926, and dividends=1261 and tax rate is 34%
Rogers Company reported net income of $44,587 for the year. During the year, accounts receivable increased by $7,982, accounts payable decreased by $2,757, and depreciation expense of $6,561 was recorded. Net cash provided by operating activities under the indirect method for the year is a.$44,587 b.$56,373 c.$61,887 d.$40,409
I want to correct answer general accounting
Net income reported on the income statement for the current year was $240,000. Depreciation was $52,000. Accounts receivable and inventories decreased by $5,000 and $15,000, respectively. Prepaid expenses and accounts payable increased, respectively, by $500 and $14,000. Investments were sold at a loss of $20,000. How much cash was provided by operating activities? O $345.500 O $317,500 O $307,500 O $258,500
A company had net income of $265,307. Depreciation expense is $27,888. During the year, Accounts Receivable and Inventory increased by $17,637 and $28,123, respectively. Prepaid Expenses and Accounts Payable decreased by $2,852 and $4,066, respectively. There was also a loss on the sale of equipment of $7,873. How much cash was provided by operating activities?Select the correct answer.$301,068 $238,348 $291,796 $254,094
Net income was $75,700; accounts receivable decreased by $18,500; inventory increased by $7,900; proceeds from the issuance of long-term debt were $24,550; accounts payable decreased by $6,300; equipment purchases were $80,500; depreciation and amortization expense was $32,200. (Amounts to be deducted should be indicated with a minus sign.)Required:Calculate the net cash provided (used) by operating activities for the period. list cash flows from operating activities
A company had net income of $287,208. Depreciation expense was $20,306. During the year, accounts receivable and inventory increased by $15,568 and $33,238, respectively. Prepaid expenses and accounts payable decreased by $2,691 and $6,595, respectively. There was also a loss on the sale of equipment of $3,381. How much was the net cash flow from operating activities on the statement of cash flows using the indirect method?
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